Analyst: Ethereum price faces $1,500 risk, ETF capital outflows exert pressure

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CryptoWorld News reports that Ethereum faces a risk of dropping to $1,500 on June 12, as geopolitical risk, ETF capital outflows, and weak technical structure bring it close to a key support level. Ethereum’s current trading price is $1,652.70, down 0.4% over the past 24 hours. The token’s daily trading volume is $12.28 billion, and its market capitalization is close to $199.23 billion. Over the past 24 hours, Ethereum’s price has traded between $1,632.77 and $1,687.85, and it is down 4.91% over the past seven days. Ethereum’s latest weakness is related to U.S. military actions against Iran, which has caused traders to move away from high-risk assets. High energy prices also add pressure, as they may keep inflation elevated, which is unfavorable for Ethereum. Analysts note that Ethereum has entered a long-term accumulation range, and the current price is near the 0.8 MVRV valuation band, which typically signals undervalued conditions.
ETH0.51%
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RationalRugChecker
· 34m ago
199.2 billion market cap, can it hold up? Let's see this week.
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GateUser-047cb6fc
· 4h ago
Is 1500 a solid support or a weak support? Waiting for increased volume.
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GateUser-0b71fc11
· 4h ago
12.2 billion in transactions still falling, both bulls and bears are waiting for the direction
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SpiralSeaSalt
· 4h ago
Geopolitical + ETF double whammy, ETH has been thoroughly shaken in this wave.
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TheReflectionUnderTheNeon
· 4h ago
0.8 MVRV is indeed tempting, but you have to use your bullets sparingly.
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GateUser-eb706989
· 4h ago
This powder keg of Iran and the U.S., cryptocurrencies are also suffering.
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